BE-10: Own 10%? Be in the Know.

If you are a U.S. person who owns an interest in a business outside the United States, you may have a federal reporting obligation that is easy to overlook: the BE-10 Benchmark Survey of U.S. Direct Investment Abroad.

Administered by the U.S. Bureau of Economic Analysis (BEA), the BE-10 is a mandatory survey for those who meet the filing requirements and is used to collect information pertaining to U.S. direct investment abroad. According to the BEA, the survey produces statistics on the scale and effects of U.S.-owned business activities abroad, helping business leaders, policymakers, and researchers understand the impact of foreign investment on jobs, wages, productivity, and taxes.

Importantly, the BE-10 is not an IRS tax filing. Having your tax return prepared does not necessarily mean the BE-10 requirement has been addressed. It is a separate federal reporting obligation and is easy to overlook as the survey is only conducted every five years.

The most recent BE-10 survey covered the 2024 fiscal year, with filing deadlines of May 30^th or June 30^th, 2025, depending on the number of affiliate forms required. The next benchmark survey is expected in 2030, covering the 2029 fiscal year.

One should not assume they are exempt simply because you did not receive a notice from the BEA, as the BEA states that entities subject to the reporting requirements must file regardless of if they are contacted by the BEA.

For those who are required to file, overlooking the BE-10 can create an unnecessary compliance issue. To better understand if you need to file a BE-10, start with these three key questions:

1. Do you own a foreign business?

If you own an interest in a corporation, partnership, or other business outside the United States, the BE-10 may apply.

2. Do you own or control at least 10%?

Generally, a foreign business may be considered a foreign affiliate when a U.S. person directly or indirectly owns or controls 10% or more of the voting stock of an incorporated foreign business, or the equivalent interest in an unincorporated business.

You do not need to own a majority interest. If you own multiple foreign businesses, more than one foreign affiliate may need to be reported.

Importantly, the 10% threshold is an ownership threshold, not a dollar-value threshold. That said, the size of the foreign business can affect which BE-10 form applies and the amount of information that must be reported.

3. Is your ownership indirect?

Do not overlook interests held through another company or entity, as the BEA’s rules can take indirect ownership into account. For example, if you own an interest in a U.S. holding company that, in turn, owns an interest in a foreign operating company, the entire ownership structure may need to be considered.

The Bottom Line

If you are a U.S. person with a qualifying interest in a foreign business, understanding your BE-10 obligation is an important part of your overall compliance planning. If you work with a qualified tax professional, ask specifically whether the BEA reporting requirements have been reviewed. The earlier you identify the requirement, the easier it is to gather the necessary information and coordinate with your professional advisors, as completing a BE-10 may therefore require access to financial statements and other records for the foreign business.

The BE-10 is not optional for those who meet the filing requirements. Failure to file can result in civil penalties and an order requiring compliance. Willful violations can also result in criminal penalties, including fines and, for individuals, potential imprisonment.

If you are unsure whether the BE-10 applies to you or your business, consider reaching out for guidance on your U.S. international reporting obligations.